April 26, 2010 (Chinavestor) The DJIA was buoyed by strong Caterpillar (NYSE:CAT) results and closed up 0.75 points or 0.01% but the S&P fell along financial stocks on Monday. A bill to curb bank profits amid strict regulations was making its was through the Senate, sending shares of Goldman and other financial institution lower for the day. Most of the early day gains have evaporated by the end of the day sending Chinese stocks lower during the afternoon session.
Sohu.com (NASDAQ:SOHU) reported net income fall of -30% but guided higher - yet it failed to hold on to the morning gains. Internet ad stocks up after SOHU bullish outlook.
Changyou.com (NASDAQ:CYOU), an online game spin-off from SOHU, fell -3.07% as revenue growth slowed to a mere 2% from previous quarter.
Stocks on the move: Shares of Baidu.com (NASDAQ:BIDU), the largest search engine company in China, fell -$4.62 amid significant volume. Sohu.com (NASDAQ:SOHU) fell -$1.20 while Petrochina Co. Ltd. (NYSE:PTR), the largest oil producer in China, fell -$.60 or -0.51% as the price of oil subsided. Price of the crude fell -$1.32 or -1.45% to $83.80 on the NYMEx.
Shares of WuXi Pharmatech (NYSE:WX) jumped +17.1% after Charles River Labs (NYSE:CRL) announced plans to acquire the company for $21.25/share. AsiaInfo Holdings (NASDAQ:ASIA) rose +7.48% with heavy underlying volume, suggesting the uptrend is here to stay.
For additional stocks on the move, visit the chart below.